WI HEALTH INSURANCE EXAM - THE NUMBERS
5 years - Answers :Examine domestic insurers and licensed rate service organization
every _______ (Amount of time)
30 days - Answers :How many days are given to request a hearing after an order is
issued without one.
10-60 days - Answers :Days for commissioner to give hearing after a request
20 days - Answers :Days for an aggravated person to request a hearing
24 hours - Answers :Hours of continuing education every 2 years
5 years - Answers :amount of time a person whose license has been revoked can
reapply.
15 working days - Answers :Amount of time for after receipt of request, for insurer to
supply insured with a copy of the application
10 days - Answers :Amount of time for the advance notice to the policyholder for
midterm policy cancellation
60 days - Answers :Amount of time for a notice to the insured when cancelling a policy
in effect for more than one year
1 year - Answers :amount of time after time required by policy for insured to send proof
of loss
30 days - Answers :Amount of time in which after a notice, the unpaid claim is
considered overdue.
7.5% - Answers :Annual interest rate on overdue claims payments
$5000 - Answers :Maximum total penalty for person violating insurance statues
$1000 - Answers :Maximum fine per day for violation of an order
$10000 - Answers :Maximum penalty for violation of statute by a corporation
$100,000 - Answers :Amount of bond that may be required for surplus lines agents and
brokers
$35 - Answers :Biennial regulation fee for resident producers
12 months - Answers :maximum probationary period
, 10 years - Answers :Any licensed person whose activities affect commerce and who
knowingly makes false material statements related to the business of insurance may be
imprisoned for up to ____
20 days - Answers :Days for a commissioner to act on a petition before it is considered
denied
2 weeks - Answers :Amount of time to comply with an order before a penalty is issued
18 - Answers :minimum age to apply for insurance license
20 hours - Answers :required prelicensing education
15 days - Answers :Amount of time that appointments are effective prior to being
entered in the licensing system.
15 days - Answers :Amount of time to notify agent of termination of appointment
3 years - Answers :minimum time to keep records
30 days - Answers :amount of time to notify the commissioner of a change of address
30 days - Answers :Amount of time to report a change in intermediary status or felony or
misdemeanor conviction
30 days - Answers :Life settlements in Wisconsin must allow for a _______ right to
rescind the contract
60 days - Answers :An insurer decides to renew a policy but at a higher premium rate,
starting on the renewal date. How many days in advance must the insured be notified
40 - Answers :Minimum standards for policy readability approval is a minimum score of
___ on the Flesch reading ease test of equivalent.
50 - Answers :The minimum score for Medicare Supplement policies is ___ for the
Flesch reading ease test.
3 months - Answers :Insurers must permit people who have been insured for at least
______ under a group contract to continue group coverage or convert to an individual
contract if the group coverage ends because of divorce, annulment, death or any other
reason except discharge for misconduct.
60 days - Answers :An insurance policy is considered a "new policy" if it has been in
effect for what maximum time period?
5 years - Answers :Examine domestic insurers and licensed rate service organization
every _______ (Amount of time)
30 days - Answers :How many days are given to request a hearing after an order is
issued without one.
10-60 days - Answers :Days for commissioner to give hearing after a request
20 days - Answers :Days for an aggravated person to request a hearing
24 hours - Answers :Hours of continuing education every 2 years
5 years - Answers :amount of time a person whose license has been revoked can
reapply.
15 working days - Answers :Amount of time for after receipt of request, for insurer to
supply insured with a copy of the application
10 days - Answers :Amount of time for the advance notice to the policyholder for
midterm policy cancellation
60 days - Answers :Amount of time for a notice to the insured when cancelling a policy
in effect for more than one year
1 year - Answers :amount of time after time required by policy for insured to send proof
of loss
30 days - Answers :Amount of time in which after a notice, the unpaid claim is
considered overdue.
7.5% - Answers :Annual interest rate on overdue claims payments
$5000 - Answers :Maximum total penalty for person violating insurance statues
$1000 - Answers :Maximum fine per day for violation of an order
$10000 - Answers :Maximum penalty for violation of statute by a corporation
$100,000 - Answers :Amount of bond that may be required for surplus lines agents and
brokers
$35 - Answers :Biennial regulation fee for resident producers
12 months - Answers :maximum probationary period
, 10 years - Answers :Any licensed person whose activities affect commerce and who
knowingly makes false material statements related to the business of insurance may be
imprisoned for up to ____
20 days - Answers :Days for a commissioner to act on a petition before it is considered
denied
2 weeks - Answers :Amount of time to comply with an order before a penalty is issued
18 - Answers :minimum age to apply for insurance license
20 hours - Answers :required prelicensing education
15 days - Answers :Amount of time that appointments are effective prior to being
entered in the licensing system.
15 days - Answers :Amount of time to notify agent of termination of appointment
3 years - Answers :minimum time to keep records
30 days - Answers :amount of time to notify the commissioner of a change of address
30 days - Answers :Amount of time to report a change in intermediary status or felony or
misdemeanor conviction
30 days - Answers :Life settlements in Wisconsin must allow for a _______ right to
rescind the contract
60 days - Answers :An insurer decides to renew a policy but at a higher premium rate,
starting on the renewal date. How many days in advance must the insured be notified
40 - Answers :Minimum standards for policy readability approval is a minimum score of
___ on the Flesch reading ease test of equivalent.
50 - Answers :The minimum score for Medicare Supplement policies is ___ for the
Flesch reading ease test.
3 months - Answers :Insurers must permit people who have been insured for at least
______ under a group contract to continue group coverage or convert to an individual
contract if the group coverage ends because of divorce, annulment, death or any other
reason except discharge for misconduct.
60 days - Answers :An insurance policy is considered a "new policy" if it has been in
effect for what maximum time period?
